Telephone and Data Systems (NYSE:TDS) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Telephone and Data Systems, Inc. (NYSE:TDS) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.07 and traded as high as $43.29. Telephone and Data Systems shares last traded at $43.1650, with a volume of 590,020 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on TDS shares. Citigroup increased their price objective on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Zacks Research cut shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings raised shares of Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

Telephone and Data Systems Stock Performance

The company has a market capitalization of $4.83 billion, a P/E ratio of -64.58 and a beta of 0.34. The business has a 50-day moving average of $44.52 and a 200-day moving average of $41.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.10 and a quick ratio of 2.09.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, February 20th. The Wireless communications provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. Telephone and Data Systems had a negative net margin of 0.21% and a positive return on equity of 2.25%. The business had revenue of $330.71 million for the quarter, compared to analysts’ expectations of $319.28 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 16th. Telephone and Data Systems’s dividend payout ratio is -24.62%.

Institutional Trading of Telephone and Data Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Telephone and Data Systems by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,392,050 shares of the Wireless communications provider’s stock worth $262,072,000 after purchasing an additional 101,482 shares during the last quarter. Carronade Capital Management LP boosted its position in Telephone and Data Systems by 14.2% in the 4th quarter. Carronade Capital Management LP now owns 4,203,594 shares of the Wireless communications provider’s stock valued at $172,347,000 after buying an additional 523,094 shares during the period. State Street Corp boosted its position in Telephone and Data Systems by 1.5% in the 4th quarter. State Street Corp now owns 4,049,385 shares of the Wireless communications provider’s stock valued at $166,025,000 after buying an additional 58,439 shares during the period. Oaktree Capital Management LP bought a new position in Telephone and Data Systems in the 3rd quarter worth about $144,732,000. Finally, Geode Capital Management LLC grew its stake in Telephone and Data Systems by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,415,553 shares of the Wireless communications provider’s stock worth $99,053,000 after acquiring an additional 66,814 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.